Vale not overloading the market with iron ore supply

Tuesday, 10 November 2020 01:32:05 (GMT+3)   |   Sao Paulo

Brazilian miner and iron ore producer will be cautious while expanding capacity post-Brumadinho to not flood the market with an exceeding supply of the commodity.

“We’re going to be responsible. We’re not overloading the markets with iron ore,” said Luciano Siani, Vale’s finance and investor relations director.

Vale has plans to gradually increase iron ore output, however, Siani said the company may not use all its capacity if an expected increased demand in Asia doesn’t occur.

“The intention isn’t to overload the market up to 450 million mt. It’s to have available capacity to meet the market’s (demand) if needed,” he said in a summit.

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